When it comes to starting a business there’s a lot to consider. However, the most important thing you can do is have a budget and if possible- have extra money saved up for those unexpected needs. There are a lot of business loans out there for start-ups, but it’s best to avoid those if at all possible. In our opinion- the best thing you can do as you start your business is to make good financial choices and spend as little as possible. To give you a good example of this in real life, we’ve decided to interview and business owner out in Eugene, Oregon that’s currently in the start-up phases of his Fitness Bootcamp. Chris Mikilas, at http://corefusionfitness.us/ sat down with us on a call to help us see how he did this without taking out any loans.
Q: Good Morning Chris! We understand you’ve been up since 4 am getting paid to torture people. Can you tell us a little about your business and what you do?
Chris: LOL! Yes, I certainly do torture some, but it’s all for good reason. And sure! What I do is run Core Fusion Wellness and Fitness Center. What we focus on is getting people of all shapes and sizes in the best shape of their life. all while being a safe place to come and not be judged. We do this mainly through our BootCamp classes that are offered all day and meal plans that we make for each client. We also do personal one on one training and team training.
Q: Wow, so you really are at the gym all day. Now, is it true that you started this business and have kept it going without taking out any business loans? If so, how have you done that?
Chris: It is true, yes. How I’ve done that is really smart marketing, networking, and taking my time to grow and scale the business. Instead of expecting to be the best BootCamp in the nation overnight, I knew it would take time and started off with classes in my garage and eventually had enough people that we needed a bigger space. I was then able to get us into a gym in town for next to nothing because I brought in so many leads for that gym. It was kind of a nice bartering system. Before I knew it they had hired me to run the gym as a side job.
Q: Oh nice! So instead of spending money, you actually ended up earning more? That’s crazy!
Chris: Ha, yes. I mean it’s more work, but it worked out well for me and my clients.
Q: What one thing that has saved you the most money?
Chris: Oh bartering for sure. I’ve got free marketing because we trade services (she’s how I got connected with you actually), I got a free place to do the classes because I had over 40 new gym memberships just eager to sign up, and I negotiated revenue share, and I’ve gotten a ton of free video’s made from friends. Barter and get all the free stuff you can, it goes a long way!
Q: That’s great advice. Looks like we’re out of time, we can hear your new class arriving and they sound eager. Have a great class and thank you for your advice!
Chris: Sure thing, anytime!
There you have it businesses- there’s some advice from someone thick in it and succeeding. Looks like the term of the day is bartering and trading work to save money. So get out there and find some partnerships. Happy selling!
And take a look at Chris’s businesses video that he got for free! Bartering for the win?